In a bid to deepen insurance penetration in Nigeria’s economy, insurers, the banking sector and other relevant stakeholders are in talks on how underwriters can realize additional N270 billion yearly premium income from importations at the gateway. Read also: USA Air Consolidation Redefined
An analysis by The Guardian showed that if the proposed plan materialises, it will ensure that about 45 million cargoes coming into the country through Nigeria’s seaports on yearly basis have genuine marine cargo insurance certificates.
With marine cargo insurance not part of the compulsory insurances, importers have been negligent about insuring their cargoes, with sources in insurance sector putting the number of cargoes with genuine insurance coverage at about 40 per cent of the entire cargo throughput entering the ports yearly...
https://cargoclearing..com/2019/10/n270b-annual-loss-stakeholders-in-talks.html